NEAR Foundation Released The Transparency Report For Q3 Of 2022

Key Points:

• The NEAR Foundation has published its Q3 2022 transparency report on its official blog.
• Additionally, the foundation committed a total of $39 million in Q3, continuing its commitment with an $800 million ecosystem fund in Q1 2021.
• The foundation will continue to support the ecosystem, drive awareness of NEAR and Web3, and educate regulators across the globe.

On December 21, the NEAR Foundation published its third quarter 2022 transparency report on its official blog.

Weekly active wallets grew to 280,000 per week, up from 26,000 at the end of the second quarter. The number of weekly active developers was flat at 1,100 during this time period.

In addition, the NEAR Foundation committed a total of $39 million in Q3, continuing its commitment to the $800 million ecosystem fund in Q1 2021.

The $800 million ecosystem fund is split into four broad groups:

• $350 million – Proximity DeFi Grants – to help projects in the space of financial innovation within the NEAR ecosystem. (Proximity will be publishing its own transparency report on December 21, 2022.)
• $100 million – Startup Funds – to decentralize capital deployment into dedicated investment funds within the ecosystem.
• $250 million – Foundation Grants – to support projects building on NEAR through direct investment and grants.
• $100 million – Regional Funds – to establish physical hubs in key regions around the world to provide a local presence.

Of this, $10 million will go to used to allocate deployment capital to a dedicated investment fund in the ecosystem; $26 million will be used for direct investment and funding to support NEAR-based projects.

The foundation has been aggressively assisting its community initiatives to create centers all over the world in an effort to reach a billion people. In order to uncover the finest individuals and initiatives and create collaborations with regional organizations, NEAR Hubs offer regional events in regional languages.

NEAR Foundation has built seven regional hubs thus far. In Q3, it was stated that the US Hub would open and that the Balkans Hub would be extended:

• Ukraine Hub (winding down as of Q4 2022)
• Kenya Hub (Sankore)
• Balkans Hub
• Vietnam Hub
• India Hub
• South Korea Hub
• US Hub

The NEAR Foundation is committed to carrying on supporting the ecosystem, promoting NEAR and Web3, and promoting authorities everywhere.

In addition, the foundation will keep decentralizing and investing money in local hubs and ecosystem funds that are committed to maintaining the NEAR ecosystem’s health.

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